Five Must-Have Real Estate Tools

If you’re a new REALTOR® or if you’ve been in business awhile and re-evaluate your budget every year, I am here to reassure you there are only five tools you need to start or maintain your real estate business.

I’ve complied a short list of the must-have’s for those REALTORS® newer to the business who are questioning advertisements’ promising leads, great return on investment, and more. Hopefully I will re-energize other REALTORS® who have been in the business awhile to “get back to basics” and understand what we really need to make the best use out of the tools we have or how to do as much as possible with just a few good programs.

1. Contact Database
Whether you use MS Outlook, Excel (gasp), Top Producer, or even the contact manager through your MLS system, you really need some place besides your notebook or bar napkin to store contacts. I recommend a database that will do many functions, like Top Producer. It is a small investment that provides so many different tools, from e-mail programs, to drip e-mail campaigns, and more.

2. Blog
Notice I did not say website. Many REALTORS® are using their WordPress blogs as their main Web presence and even having IDX feeds so consumers can search homes. Get a free WordPress account today, or pay a little extra each month for additional features. Consumers are asking for hyper-local content and information. Blogging allows you to be the expert in your neighborhood.

3. Virtual Tour Program
There are many programs that are free, less than $10 a month, or charge per-tour. There is one that stands out among the rest–Visualtour.com. For $30/month, you can create unlimited virtual tours, advertise your listings on dozens of websites, and use the program to self-promote. Take still pictures and turn them into panoramic shots and video through their software. If you use this program right, it serves so many functions you might just have to cancel other programs or advertising you are paying for now. Check out a virtual tour I did while on an real estate trip in Dominican Republic: http://www.visualtour.com/show.asp?t=2038675&prt=10003

4. Realtor.com Advertising
For $11 a month, I tell prospective sellers their homes will show up every 8-9 pages of homes as a featured listing on Realtor.com versus one time in the 350+ pages of homes for sale. That’s powerful! New REALTORS® sign up for showcase advertising while they have few listings to save money–as the monthly charge is based on the number of listings you carry in a 12-month period. Then call sellers to tell them they will have a “premium advertisement” on the number one real estate website.

5. Niche
There are “riches in niches.” How do you set yourself apart from the other REALTORS®? Take the time in 2010 to educate yourself through a REALTOR® designation. Analyze your market, your past business, and what makes you tick to discover how to set yourself apart. If you’re reading this, you already have a niche. Remember, NAR statistics show the average age of a first-time homebuyer is 30 years old. As a YPN member, you may be in the position to relate to and communicate with that first-time buyer.

Dawn Miller is a REALTOR® from Virginia Beach, Va., and chair of her local YPN chapter. Visit her Web site: www.DawnMillerHomes.com.

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I totally agree with you regarding blogs. I’ve converted my entire Nashville, TN real estate website over to the WordPress format and I can’t believe I waited so long:http://StephanieCrawford.net

I must say though, regarding niche marketing, that I agree with the premises in theory. My niche is urban condos, but that market went south this year and I’ve been scrambling to make ends meet. Going forward, I’m going to try to continue with the niche, but not at the exclusion of marketing myself as a general practitioner.

drew@dreamdesignrealty.com

Hi Dawn,

Excellent post, I agree you have listed some really good “must have” tools for your RE Biz. I have a page on my blog that lists some others that you may want to review, we try to update it frequently.:

Ive actually heard that realtor.com does not get the leads that they promise. Constantly in blogs I see people say that its a waste of money and the people there are really rude. Im not saying its bad myself since I havent experimented with it, just wanted to bring up the discussion.

Since your recommending it, what are some of the reasons that it works so well? Every site can say that they will get you leads but have you seen real evidence?

Dear NewHomesListings:
Thank you for your comment on this blog. You had questions regarding the advertising programs with Realtor.com and any leads. Unfortunately, I have learned the hard way with spending lots of advertising dollars that alot of print and even some Internet advertising never delivers the leads we are looking for. I merely use Realtor.com advertising to show potential sellers in listing appointments that I DO advertise! I use the stats that Realtor.com provides and it blows away most of the the stats with advertising. I use showcase listing and feature home. I recently signed up for Buyer Search Assist program, hoping for some buyer leads from Realtor.com. I have received only 3 in 3months, of which only 2 were good emails addresses. They recently started this program and I am extrememly disappointed in it, and trying to cancel it. You would think you would get a good amount of leads, as buyers sign up based on zip codes, and only 2 agents per zip codes….urrrgh! Hope this helps.

Regarding other comments–use I agree, you can not put all eggs in one basket in regards to working a niche. I should be one a few things you do market yourself. We certainly need to be verstaile in this market and be able to find business in and out of our niche.